Brent Oil Is Trading Around $ 68 A Barrel

Brent oil is trading around $ 68 a barrel. Today, a barrel of Brent oil is traded at $ 68.27 in global markets.

The barrel price of Brent oil, which reached the level of $ 70.03 on the first trading day of the week, closed the day at $ 68.88. The barrel of Brent oil, which decreased 0.89 percent compared to the closing at 09:41 am today, traded at $ 68.27. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 64.78. Stopping the use of the coronavirus (Covid-19) vaccine developed by Oxford University and the pharmaceutical company AstraZeneca in many European countries created the perception that oil demand would be negatively affected, causing prices to drop. The use of AstraZeneca vaccine, which has been temporarily suspended since last week on the grounds that it may cause blood clotting and deaths, has been shelved for precautionary purposes in many countries such as Germany, France, Spain, Italy, Denmark, the Netherlands, Norway and Ireland. The suspension puts pressure on prices on the grounds that vaccination efforts will slow down and adversely affect the economic recovery. On the other hand, the stock data of the American Petroleum Institute will be announced today and the official stock data of the US Energy Information Administration will be announced tomorrow. In technical terms, it is stated that in Brent oil, the range of $ 68.70 and $ 69.41 can be followed as the resistance zone and the range of $ 67.99 and $ 67.28 as the support zone.